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Consumer Spending Gains Momentum in Early November – But Are They Buying Gifts Yet?

NPD Holiday Shopping Bag 2017 Weekly Report: Week 2

The positive momentum seen in the first week of November 2017 strengthened in the second week. Cumulatively, NPD’s Holiday Shopping Bag shows retail sales for the first two weeks of the season up 6 percent across key general merchandise categories. However, based on the hottest products across the first two weeks, much of the consumer spending is likely still on items for themselves, rather than gifts for others.

Week Ending
November 11, 2017

Overall Performance

Dollar sales in the second week of November 2017 were 9 percent higher than they were in the second week of November 2016.

Small Home Appliances, Prestige Beauty, Apparel, and Athletic Footwear each experienced double-digit
dollar growth, compared to last year.

Increases in the volume of items sold and the average price paid for products both drove this week’s growth

Top Performing Categories

Women’s Apparel (driven by Outerwear)

Men’s Apparel (driven by Sweats/Active Bottoms)

Tablets

Sport Leisure Footwear

Kitchen Appliances (driven by Blending & Processing)

“Early season growth demonstrates the consumer’s willingness to spend and spells potential for retail this Holiday,” said NPD’s Chief industry Analyst, Marshal
Cohen. “The challenge for retail is to harness the personal need drivers behind this early spending, convert it into a continued desire to spend on more traditional gift items throughout the season, and do so in ways that extends beyond deep discounting.”